Rocket Lab USA (NASDAQ:RKLB) Trading Up 0.4% – What’s Next?

Rocket Lab USA, Inc. (NASDAQ:RKLB) was up 0.4% on Friday . The company traded as high as $33.34 and last traded at $31.70. Approximately 13,036,962 shares were traded during mid-day trading, a decline of 37% from the average daily volume of 20,626,447 shares. The stock had previously closed at $31.57.

Analyst Ratings Changes

Several equities analysts have recently commented on RKLB shares. The Goldman Sachs Group increased their target price on Rocket Lab USA from $12.00 to $13.50 and gave the company a “neutral” rating in a research note on Thursday, January 16th. KeyCorp increased their target price on Rocket Lab USA from $11.00 to $12.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Bank of America increased their target price on Rocket Lab USA from $10.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. TD Cowen upgraded Rocket Lab USA to a “strong-buy” rating in a research note on Thursday, December 19th. Finally, Citigroup increased their target price on Rocket Lab USA from $22.00 to $35.00 and gave the company a “buy” rating in a research note on Tuesday. Five equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $20.06.

Rocket Lab USA Price Performance

The stock has a market cap of $15.42 billion, a price-to-earnings ratio of -83.41 and a beta of 1.98. The stock has a fifty day simple moving average of $24.78 and a 200-day simple moving average of $13.82. The company has a current ratio of 2.58, a quick ratio of 2.16 and a debt-to-equity ratio of 0.97.

Insider Activity at Rocket Lab USA

In other Rocket Lab USA news, Director Alexander R. Slusky sold 50,000 shares of Rocket Lab USA stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $23.00, for a total value of $1,150,000.00. Following the completion of the transaction, the director now owns 534,675 shares in the company, valued at approximately $12,297,525. The trade was a 8.55 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Matthew Ocko sold 2,000,000 shares of the business’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $17.73, for a total value of $35,460,000.00. Following the sale, the director now owns 2,351,135 shares of the company’s stock, valued at approximately $41,685,623.55. The trade was a 45.97 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,114,530 shares of company stock valued at $38,168,400 in the last 90 days. 13.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Rocket Lab USA

Institutional investors have recently made changes to their positions in the stock. Spire Wealth Management boosted its position in shares of Rocket Lab USA by 14.0% during the fourth quarter. Spire Wealth Management now owns 11,400 shares of the rocket manufacturer’s stock worth $290,000 after buying an additional 1,400 shares during the period. Chicago Partners Investment Group LLC boosted its position in shares of Rocket Lab USA by 0.4% during the fourth quarter. Chicago Partners Investment Group LLC now owns 79,943 shares of the rocket manufacturer’s stock worth $2,187,000 after buying an additional 334 shares during the period. New Millennium Group LLC boosted its position in shares of Rocket Lab USA by 105.0% during the fourth quarter. New Millennium Group LLC now owns 2,050 shares of the rocket manufacturer’s stock worth $52,000 after buying an additional 1,050 shares during the period. Capital Investment Advisory Services LLC acquired a new position in shares of Rocket Lab USA during the fourth quarter worth about $207,000. Finally, KBC Group NV raised its holdings in Rocket Lab USA by 36.1% during the fourth quarter. KBC Group NV now owns 14,258 shares of the rocket manufacturer’s stock worth $363,000 after acquiring an additional 3,779 shares in the last quarter. 71.78% of the stock is owned by institutional investors and hedge funds.

About Rocket Lab USA

Rocket Lab USA, Inc, a space company, provides launch services and space systems solutions for the space and defense industries. The company provides launch services, spacecraft design services, spacecraft components, spacecraft manufacturing, and other spacecraft and on-orbit management solutions; and constellation management services, as well as designs and manufactures small and medium-class rockets.